The numbers, without the spreadsheet.
Most firms already know which reports they need; the work is in assembling them. Because time, invoices, payments and budgets are recorded as the work happens, the reports a firm has to produce anyway are a view rather than a weekend.
The reports a firm is asked for
Month end in an afternoon
Fees billed, collected and outstanding by period, fee-earner and matter type — with the detail behind each figure a click away.
Debt you can act on
Aged debt by client and matter, with what has been chased and what has been promised, so credit control starts from a list.
A budget a client can follow
Budget against actual on a matter, including disbursements, so a client asking where their money went gets a written answer.
What this changes
- No rekeying between systems. The figures come from the same entries the firm already makes, so the report and the file cannot disagree.
- Your accountant gets what they ask for. Period summaries export in a form an accountant accepts, instead of a rebuilt spreadsheet with three private versions.
- Partner-level questions get answered the same day. Which matters are under-recovering, which client is slow to pay, which practice area is actually profitable.
- Nothing is discovered at year end. Figures that would otherwise surface in an annual review are visible monthly, while they can still be acted on.
A report is only as good as what has been recorded: unbilled time that was never entered is invisible, and we would rather say that than present a confident wrong number.
A month in the accounts
As the work happens
Fee-earners record time and disbursements against matters; supervisors approve what will be billed.
Month end
The partner reviews work in progress and decides what goes out. Invoices are raised from the reviewed entries, not from memory.
Credit control
Aged debt is worked through as a list, oldest first, with notes against each client rather than a general impression of who is slow.
Quarter end
Budgets against actuals and utilisation are reviewed by practice area; the figures go to the accountant as exports.
Bring a month of your numbers
In a walkthrough we take a month from your current system and show the same period inside OpenLPM, side by side.